UK-based Virgin Atlantic said July 1 that it was continuing to work on “a comprehensive, solvent recapitalization of the airline” to ensure it could continue to provide “essential connectivity and competition” for consumers and businesses.
Following cases of transit passengers being stranded at Hong Kong International Airport (HKG) as a result of mishandling by airlines, Airport Authority Hong Kong (AA) has introduced a series of penalties imposed on airlines should such cases occur again.
Scandinavian Airlines (SAS) has secured a SEK14.25 billion ($1.5 billion) recapitalization, led by the Danish and Swedish governments along with third-largest shareholder the Knut and Alice Wallenberg Foundation.
Aeromexico became the latest Latin American airline to seek Chapter 11 bankruptcy protection in the U.S., as the region’s carriers struggle to remain solvent in the absence of federal government support.
Airbus’ announcement June 30 that it would cut 15,000 positions in response to the current crisis has caused an uproar in France, where 5,000 cuts are planned.
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